‘Desperate’ Stablecoin Investor Pays $2 Million for Just $0.05 in $USDT After $USDC and $DAI Depeg

A “desperate” cryptocurrency investor has paid well over $2 million in an on-chain trade to swap out of an investment offering them exposure to $USDC and the decentralized stablecoin $DAI and into $USDT, but only received $0.05 in return. According to an analyst’s take on the trade and a postmortem report from the decentralized exchange […]